ExxonMobil and Hess

ExxonMobil and Hess have found oil offshore Guyana at the Pacora-1 exploration well, the companies’ seventh discovery there. In a written statement, ExxonMobil Exploration Company President Steve Greenlee said, “Pacora will be developed in conjunction with the giant Payara field and, along with other phases, will help bring Guyana production to more than 500,000 barrels per day.” The Pacora-1 well, approximately four miles west of the Payara-1 discovery well, encountered approximately 65 ft of high-quality, oil-bearing sandstone reservoir, the company said. The Pacora well reached a depth of 18,363 ft in 6,781 ft of water. ExxonMobil is the operator and has a 45% interest in the well, with Hess and CNOOC Nexen Petroleum holding 30% and 25% interests, respectively.